HONG KONG, Aug. 26, 2014 /PRNewswire/ -- Taubman Asia, a subsidiary of U.S. mall REIT, Taubman Centers, Inc. (NYSE: TCO), today announced it has increased its ownership interest in the Hanam Union Square shopping center project. In the new ownership structure, Taubman Asia has partnered with a major institution in Asia to acquire an additional 19 percent stake from Shinsegae Group. This partnership now has a 49 percent ownership interest.

Mr. Rene Tremblay, Taubman Asia President, said, "We're delighted with our additional ownership in Hanam Union Square. Through our great partnership with Shinsegae Group, we're building a landmark project that is on track to transform Hanam City into a premier shopping and entertainment destination."

"Having an Asia-based institution partnering with us further validates the strength and appeal of Hanam Union Square," Mr. Tremblay added.

Mr. Peter DeGalan, ‎Chief Investment Officer at Taubman Asia, said, "The increase in investment from Taubman Asia allows us to strengthen and expand our relationship with Shinsegae Group further as we create a first to market, lifestyle shopping destination in South Korea."

Hanam Union Square shopping center will be in Hanam City, Gyeonggi Province, South Korea. Taubman Asia and Shinsegae Group, Korea's pre-eminent retail group, are co-developing the site with Taubman Asia bringing its wealth of shopping center experience to the project.

With a gross leasable area of almost 1,700,000 square feet (152,000 square meters), Hanam Union Square will be a unique fashion and lifestyle shopping mall with Shinsegae Department Store as the anchor tenant. Upon completion, the mall will offer four levels of retail, and approximately 6,000 parking spaces. The distinctive mall will be located in Greater Seoul, and will feature a significant number of high-end flagship stores and many international brands. It will also provide customers with various leisure and entertainment facilities such as a hypermarket, cinema, spa, food and beverage.

The mall is also expected to contribute to the local economy by creating more than 7,000 jobs.

Hanam Union Square will be a new mall concept, which will provide shoppers with a holistic shopping experience, by setting a new standard for customers in meeting the wants and needs of a wide range of visitors. It will be among the largest in the country with distinct areas being developed for families, teenagers, and Korea's most discerning luxury shoppers and is scheduled to open in late 2016.

Located in one of the most scenic areas of Greater Seoul, with tourist attractions nearby, Hanam Union Square will be directly connected to the seven-lane Misari Expressway, which is linked to the Greater Seoul freeway network; and close to the public bus transit terminal.

In addition to Hanam Union Square in Greater Seoul, Taubman Asia's portfolio also includes managing the operations of IFC Mall in Seoul, which was opened fully leased in August 2012, and two projects in Xi'an and Zhengzhou, China.

About Taubman

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 27 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Taubman is currently developing six properties in the U.S. and Asia totaling 5.6 million square feet. Taubman, with over 60 years of experience in the shopping center industry, is headquartered in Bloomfield Hills, Mich., and Taubman Asia is headquartered in Hong Kong. www.taubman.com.

About Taubman Asia

Taubman Asia is a subsidiary of U.S. Mall operator Taubman Centers - a leader in the shopping center industry. Taubman Asia is the platform for Taubman Centers' expansion into China and South Korea and focuses on owning, managing, and/or leasing high-quality and sustainable retail real estate projects in Asia that leverage Taubman's strong retail planning design and operational capabilities. For more information about Taubman Asia, visit www.taubman.com.

For ease of use, references in this press release to "Taubman Centers," "company," "Taubman" or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks and uncertainties. You should review the company's filings with the Securities and Exchange Commission, including "Risk Factors" in its most recent Annual Report on Form 10-K and subsequent quarterly reports, for a discussion of such risks and uncertainties.

Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions.
Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000.
Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...

The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016.
Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one.
In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...

Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...

SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...

With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications.
In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...

For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space.
In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...

There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness.
In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...

One of the hottest areas in cloud right now is DRaaS and related offerings.
In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.

In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions.
In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.

In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.

"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.

SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.

Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.

The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.

Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.

You often hear the two titles of "DevOps" and "Immutable Infrastructure" used independently.
In his session at DevOps Summit, John Willis, Technical Evangelist for Docker, covered the union between the two topics and why this is important. He provided an overview of Immutable Infrastructure then showed how an Immutable Continuous Delivery pipeline can be applied as a best practice for "DevOps." ...

“Dad, if my character dies in the game, would I die in the real world?”
What a beautifully naive question that my son, Trevor, asked me during a son-dad conversation about how games might change over the years.
Earlier last year, Mattel’s CEO, Bryan Stockton, was fired. After three years, it was clear that Mattel was continuing to be challenged with sales weakness, and lower gross margins, which...

The majority of an organization’s revenues are dependent on suppliers, distributors and other third parties. But as Benjamin M. Lawsky, New York State’s Superintendent of Financial Services, points out: “Unfortunately, those third-party firms can provide a back-door entrance to hackers who are seeking to steal sensitive bank customer data.”
By now most everyone is well aware of the major data bre...

Tableau Software and big data analytics platforms come together to provide visualization benefits for those seeking more than just crunched numbers.
The next BriefingsDirect big data innovation discussion highlights how Tableau Software and big data analytics platforms come together to provide visualization benefits for those seeking more than just crunched numbers. They're looking for ways to im...

Conservation International (CI) in Arlington, Virginia uses new technology to pursue more data about what's going on in tropical forests and other ecosystems around the world.
As a non-profit, they have a goal of a sustainable planet, but we're going to learn how they've learned to measure what was once unmeasurable -- and then to share that data to promote change and improvement.

The concept behind the Internet of Things has been around for a while now, ATMs being some of the first enterprise, hardened, network-connected, managed devices for mainstream consumer use. So too with our mobile phones, these are not new concepts to network technicians or hardware geeks. But for the rest of us, we simply never imagined the extents that the "ubiquity of connectedness" would take a...

Business and IT leaders today need better application delivery capabilities to support critical new innovation. But how often do you hear objections to improving application delivery like, "I can harden it against attack, but not on this timeline"; "I can make it better, but it will cost more"; "I can deliver faster, but not with these specs"; or "I can stay strong on cost control, but quality wil...

Do the ‘darker’ channels and means that exist for searching the web in anonymity ultimately spell doom for the wider march towards open data?
So-called ‘open data’ is supposed to be an instrument for breaking down information gaps across industries and letting companies share benchmarks and best practices that raise productivity – all information should be open and that should (theoretically) inc...

Learn how the IoT Cloud will power the world of tomorrow and why managing IoT through the cloud is as important as cloud computing itself. Learn how the devices of tomorrow will work on business models that reflect a new business strategy and a way to consume services.
In his session at @ThingsExpo, Ian Khan, Manager, Innovation & Marketing at Solgenia, will discuss how powered by the cloud and...

The Federal Government’s “Cloud First” policy mandates that agencies take full advantage of cloud computing benefits to maximize capacity utilization, improve IT flexibility and responsiveness, and minimize cost. The Federal Risk and Authorization Management Program (FedRAMP) is a mandatory government-wide program that provides a standardized approach to security assessment, authorization, and con...

Technology changes at the speed of light. To say it can be hard to keep up is an understatement. For performance engineers, taking charge of your own continuing education is one of the most important things you can do to remain at the top of your game.

JavaScript is primarily a client-based dynamic scripting language most commonly used within web browsers as client-side scripts to interact with the user, browser, and communicate asynchronously to servers.
If you have been part of any web-based development, odds are you have worked with JavaScript in one form or another. In this article, I'll focus on the aspects of JavaScript that are releva...

The Internet of Things (IoT) has quickly become the next “be all to end all” in information technology. Touted as how cloud computing will connect everyday things together, it is also feared as the real- life instantiation of The Terminator’s Skynet, where sentient robot team with an omnipresent and all-knowing entity that uses technology to control, and ultimately destroy, all of humanity.

Most developers learn best by examples, which naturally tend to simplify matters and omit things that aren’t essential for understanding. This means that the “Hello World” example, when used as starting point for an application, may be not suitable for production scenarios at all.
I started using Node.js like that and I have to confess that it took me almost two years to quantify the huge perform...

As a recent graduate, and now professor in the University of Connecticut's Business Analytics and Project Management masters program, I have a lot of conversations surrounding the topic of "Big Data" and questions such as, "What does that term actually mean?"
Big Data is a fairly new topic and what seems to be an elusive term for many. Conversations are important to help bring clarity to Big Data...

Knowledge management, in business terms, refers to saving, developing, sharing, and effectively using knowledge for the benefit of organization. It refers to a multi-disciplined approach of achieving organizational objectives by making the best use of knowledge.
Scientia potentia est (Latin proverb meaning "knowledge is power") attributed to 16th century philosopher Sir Francis Bacon is nowadays ...

It is interesting to me, how quickly the hype cycle of a good thing can turn it into a monster that will inevitably eat itself, leaving a much smaller – and much more useful – concept or toolset behind. It has happened over and over in high tech, one need only say “XML” to understand what I mean. It is definitely a useful tool for some jobs, but the “XML Everywhere” craze was insane. People declar...

As companies embrace the DevOps movement, they rely heavily on automation to improve the time to market for new features and services. DevOps is a long, never-ending journey with a goal of continuously improving the software delivery process, resulting in better products and services and, ultimately, happier customers. At the beginning of their DevOps journeys, many companies focus on continuous i...

We Need a Holistic Network Infrastructure: Why Controllers Are Not Cutting It
For years, we've relied too heavily on individual network functions or simplistic cloud controllers. However, they are no longer enough for today's modern cloud data center. Businesses need a comprehensive platform architecture in order to deliver a complete networking suite for IoT environment based on OpenStack.
In h...

Cloud computing budgets worldwide are reaching into the hundreds of billions of dollars, and no organization can survive long without some sort of cloud migration strategy. Each month brings new announcements, use cases, and success stories.